Overall Unemployment: 5.7% (5.6%)
African America Unemployment: 10.3% (10.4%)
Latino America Unemployment: 6.7% (6.5%)
European America Unemployment: 4.9% (4.8%)
Asian America Unemployment: 4.0% (4.2%)
Previous month in parentheses.
Analysis:The overall unemployment saw an increase of 10 basis points. African and Asian America saw declines of 10 and 20 basis points, respectively. European and Latino America saw increases of 10 and 20 basis points, respectively. African America continues to be the only group with double digit unemployment.
African American Male Unemployment: 10.6% (11.0%)
African American Female Unemployment: 8.7% (8.2%)
African American Teenage Unemployment: 29.7% (33.2%)
African American Male Participation: 67.1% (67.8%)
African American Female Participation: 61.3% (61.2%)
African American Teenage Participation: 27.9% (29.0%)
Previous month in parentheses.
Analysis: African American males saw a decrease in both their unemployment rate and participation rate of 40 and 70 basis points, respectively. African American females saw increases in both their unemployment rate and participation rate of 50 and 10 basis points, respectively. African American teenagers saw decreases in both their unemployment rate and participation rate of 350 and 110 basis points, respectively. African American females are the only group with single digit unemployment.
CONCLUSION: The overall economy added 257 000 jobs in the month of January – a surprise to the entire nation and financial community. African America added 21 000 jobs in January marking three straight months of job gains. Unfortunately, African America is seeing its lowest participation rate in the past five months, meaning that despite job gains there is still significant lagging in job creation for the community. It could be a troubling sign as seasonal jobs have come to an end and could prove to be the first of a rough couple of months. Lower oil price estimates should allow for a good hedge for families against these job reductions. The labor force saw no significant increase and in fact saw its population not in the labor force increase 145 000 up to almost 12.2 million. Its highest number in the past five months. Once again showing a tale of multiple Americas. Despite all the headwinds, African America is now 84 000 jobs away from reaching single digit unemployment rate.
HBCU Money 